Everything You Need to Know About Winter Park Real Estate Market Trends for 2021

The New Year is often a time for new opportunities. For some, this may mean selling or buying a home. In today’s economic climate, it’s important to assess the best time to buy or sell based on�your special set of circumstances. To help you make the big decision, we’ve compiled a few�Winter Park real estate market trends for 2021�to be on the lookout for.�Read on to learn more about how much you can expect to spend on a home in Grand County,�the�number of homes on the market, and how competitive the local real estate market is.�� When you’re ready to sell or purchase a home in Grand County,�check out our�Resources for�Buyers�and�Sellers. It’s a great place to begin your journey to buying or selling a home with Real Estate of Winter Park!�

3�Winter Park Real Estate Trends for 2021 to Watch For�

1. Average Sales Price�

The COVID-19 pandemic�affected nearly every aspect of our lives and communities, including real estate�markets across the United States.�Realtor.com�published�an article titled, “How the Pandemic Pushed Home Prices to a Record High Amid Historic Economic Downturn.”�This source reported that the median listing price increased 8.5 percent year-over-year, which is�about�what we’re seeing here in Grand County.� In 2019, the average sales price for a home in Grand County averaged about $400,000 to $500,000. At the end of 2020, our real estate market saw a record average high of nearly $650,000 – and we�expect that figure to increase as we move further into 2021.�� The high demand for homes fueled by record-low interest rates has created a housing market that is expensive and�competitive.��

2. Active Listing Inventory�

We used the word “competitive” in the paragraph above. Here’s what we mean: The active listing inventory in Winter Park has been steadily�declining as more people�are�relocating�to Winter Park.�In�our�January 2021 market summary, we reported�there�were only nine homes on the market that are move-in ready and range from�$590,000�to 4.49M.��

3. Days on the Market�

Recently, homes have been getting snagged almost as soon as they’re listed. While this has to do with a limited inventory and low interest rates as we stated earlier, it’s a trend we were seeing even before the pandemic. In 2020, single-family homes, townhomes, and duplexes spent an average of 135 days on the market, which was 29 days less than the 2019 average.�� If you’re looking for a home, be sure to�search our properties�daily so you don’t miss anything that goes up for sale!�

Stay in the Know with Real Estate of Winter Park�

Stay in the know about the state of the local housing market with Real Estate of Winter Park.�We post important market updates on�our�blog,�so,�you can get the latest information about�ever-changing market trends. Be sure to check back for more Winter Park real estate market trends for 2021!� If you decide to buy or sell in Grand County this year, consider Real Estate of Winter Park as your trusted realtor.�Rest assured�that�our team�of Winter Park real estate agents are looking out for your best interest and�are�standing by to support you, every step of the way.� Contact us to begin your journey!